#UAE Says Escape From Gray Listing Hinges on Policy Effectiveness - Bloomberg video

UAE Says Escape From Gray Listing Hinges on Policy Effectiveness - Bloomberg

The United Arab Emirates needs more time to show it’s done enough to be removed from a global financial crimes watchdog’s “gray list,” a senior government official said, as the Gulf country remains under scrutiny as a haven for dubious money dealings.

A major issue left to tackle to escape the designation is “the effectiveness of the implementation,” Abdullah bin Touq Al Marri, the UAE’s minister of economy, said in an interview with Bloomberg Television on Tuesday.

“We provided a lot of our policies, a lot of our regulations, but effectiveness means that you need to enforce fines and so forth,” he said. “That will only come through time.”